Lao Cai welcomes green economic opportunities thanks to carbon storage from forests

Lao Cai province's forestry sector is making its mark with many pioneering steps, especially in forest management, monitoring and development for carbon sequestration.

With forest coverage reaching over 61%, Lao Cai is gradually piloting the construction of a carbon credit market in a number of localities, aiming at the goal of sustainably exploiting forest resources and creating a stable source of income for people.

This is considered a new direction, in line with the green economic trend, helping localities both protect the environment and participate in national emissions reduction efforts in the context of increasingly complex climate change.

With a forest cover rate of over 61%, carbon credits will open up sustainable development opportunities for Lao Cai people. Photo: Bich Hop.

According to statistics, the province's natural forest area is currently more than 473,223 hectares, which is a great potential source for projects on Reducing Emissions from Deforestation and Forest Degradation (REDD+). Carbon credits from natural forests always have high value in the international market, which has been demonstrated through the Emission Reduction Payment Agreement (ERPA) signed by the North Central region with the International Bank for Reconstruction and Development. Participating in REDD+ not only helps reduce greenhouse gas emissions but also contributes to biodiversity conservation, ecological value protection and improving the quality of the living environment.

In addition to the large natural forest fund, Lao Cai also has nearly 338,890 hectares of planted forests, many of which are being invested in intensive cultivation and managed in a sustainable manner. In addition, forests are assigned to many management entities, especially households and village communities. This is an important foundation for building community carbon projects - a model being applied by many countries to increase people's participation and share benefits from forests.

Carbon credits, a new driving force to help Lao Cai people become more attached to the forest. Photo: Bich Hop.

Through new forest planting and reforestation projects, improving forest management capacity and increasing carbon stocks, Lao Cai has the conditions to both develop the forestry economy and expand the supply of carbon credits in the future. These orientations are also consistent with the province's sustainable forestry development strategy, aiming to improve forest quality associated with people's livelihoods.

To systematically approach the carbon market, Lao Cai province has developed a plan with a clear roadmap. In the immediate future, Lao Cai will conduct a review and assessment of carbon potential at the commune level; make detailed plans for pilot projects and implement the first project according to international standards such as VCS or Gold Standard.

When the project generates carbon credits and non-carbon values, the province will register and prepare for trading on domestic and international exchanges. After reviewing and evaluating the effectiveness, Lao Cai will continue to expand the model and connect with the national carbon exchange to participate more deeply in the global market.

Source: https://nongnghiepmoitruong.vn/lao-cai-don-co-hoi-kinh-te-xanh-nho-tich-tru-cac-bon-tu-rung-d787273.html